News Highlights: Top Company News of the Day

Billionaire activist investor Daniel Loeb's Third Point hedge fund has taken a $3.5 billion stake in Nestlé SA, piling pressure on the world's largest packaged foods company to find ways to accelerate growth.

Henry Cai's AGIC Capital to Buy Pharma Firm in First U.S. Push

A Hong Kong-based private-equity fund co-founded by one of China's best-known investment bankers is making its first acquisition in the U.S., in a deal that shows China's continued appetite for overseas deals despite recent hurdles.

SpaceX Executes Back-to-Back Launches in Roughly 48 Hours

Elon Musk's SpaceX on Sunday successfully executed the second of two unmanned missions within a roughly 48-hour period in a high-water mark for the company's operational prowess.

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Facebook Is Going Hollywood, Seeking Scripted TV Programming

Facebook is talking to Hollywood studios and agencies about producing TV-quality shows with an eye toward launching original programming by late summer, people familiar with the matter said.

Troubled Air-Bag Maker Takata Files for Bankruptcy

Takata filed for bankruptcy protection in Japan and the U.S. and said it would sell most of its operations to a rival, nearly nine years after it began a global recall of rupture-prone automotive air bags.

Crown Resorts Senior Executive Sentenced to 10 Months in Prison

A senior executive at casino operator Crown Resorts got a sentence of 10 months in prison for gambling crimes, an Australian government official in Shanghai said.

Italy Prepared to Spend Billions in Shutdown of Two Banks

Italy said it was prepared to spend as much as EUR17 billion ($19 billion) as part of the shutdown of two regional banks, a deal that will transfer the lenders' best assets to the country's No. 2 bank.

Hollywood's Biggest Misses Are Hits Overseas

American moviegoers are losing interest in some of Hollywood's biggest franchises, depriving studios of their most profitable ticket sales even as international audiences in some foreign markets keep showing up.

Sky Network Television And Vodafone NZ Drop Merger Plan

Sky Network Television Ltd. said Monday that a proposed merger with the local operations of Vodafone Group would be abandoned.

Jury Selection to Begin in Martin Shkreli Trial

Federal prosecutors allege that the former Turing Pharmaceuticals CEO committed a series of interconnected frauds, misleading investors in his hedge funds and looting a publicly traded pharmaceutical company to cover the losses.